If I buy, should I get it appraised?

[ringbuyer1]

I''m currently looking for diamonds. I may (not sure yet) be purchasing through a diamond broker. He says if I don''t like the stone when it comes in it will be sent back. If I buy this way it will be an ideal cut, likely VS2, G or H, 1.15 - 1.25 round with GIA paper. I''m in Canada or would most likely be buying through the vendors on this site. Looks like a price of between $10,000 - $12,000 CDN for everything but the setting.

If I buy from the broker who will be setting the diamond in a setting of his, is it ok for me to request it be sent to an appraiser when he gets it? Will he send it or do I have to pick it up and take it somewhere myself? Or do I wait to get an appraisal until after it is set? He hadn''t mentioned an appraiser and I wondered if I should be thinking about it.

 

[the other Jake]

*bump*

 

[Rock Candy]

Hi Ringbuyer - great question! Not sure about the correct procedure, but this is what I have done recently.

I purchased my diamond from an online vendor and wanted a second opinion/appraisal on the diamond for peace of mind reasons. I wanted to have the diamond''s cut quality evaluated, the diamond matched up to the GIA cert, the GIA number inscribed on the girdle (for my protection), and to make sure I got a fair deal on the price.

The online vendor gave me one free shipping - so I used that free shipping for the diamond to be sent to the appraiser(I used Dave Atlas''s firm). I then paid the appraiser his fee + the shipping charges for the diamond to go to a custom jeweler who will be crafting the ring.

Once the diamond is set in the ring, I will forward pictures to both the vendor and the second appraiser to update the appraisal. The updated appraisal will be used for the insurance.

 

[grapegravity]

I am also live in canada, and I just upgrade to a 1.20 ct, H, eye clean SI2 canadian diamond with plat prongs and 18 kt shank for only $13k + tax from a B&M store.....

you can check this website out for diamond purchase in canada... they sell loose diamond with GIA, AGS paper, located in calgary...

www.albertadiamondexchange.com

 

[4themrs]

interesting question, should everybody, that buys a diamond or ring, etc. have an appraisal done?
I am looking at getting a gift for my wife and then question that you brought up is it a good idea to get a separate appraisal from another group.

 

[oldminer]

What someone "should" do is not always what they "choose" to do. Many times there are no consequences and you save a few bucks. When an appraiser does find a problem it potentially saves hundreds or thousands, so whether it is worth the time and effort is a choice one knowingly makes.

How hard did you shop to get the right deal? If making a good deal was important to you, then being sure is important. If you made an impulsive purchase maybe you just prefer not to know how well you did. Years ago, I bought a wonderful fur coat for my wife. This was in the days before political correctness of fur products was an issue. She and I both loved it and money was not the problem. Finding what both of us loved was the goal and the impulsive purchase was very romantic. She wore it until it no longer fit, but she won't give it away. She treasures the thought behind it, but a few more minks need to die if were to ever go back on, I'm afraid. We still have wonderful memories attached to that old coat. If I had an old coat, I'd need more material too, so this is not directed as a criticism. I have gotten a larger with the years also.

Before I buy a new house I always have had a professional appraiser go over it from top to bottom. It has saved me money to be informed. When I buy a car, I research the prices first and make decent trade-ins or retail the old car on my own. If I didn't know much about jewelry, I would consider hiring someone who does. Many people just won't be so careful. From the less careful group come people who are impulsive or who are doomed to have eventual problems that could be avoided. Of course, most people never have a major problem regardless.

Hope this long story helps you get the right perspective.

 

[ringbuyer1]

Thanks to everyone for the input. It looks like I won''t be buying from that particular diamond broker. But I can now see the importance of an appraisal. I''ll be spending enought money that I want to make sure I am getting the right thing. Paying for the appraisal would be worth it to be able to know I got what I paid for.